Raspberry Pi’s first annual earnings after IPO show $260 million revenue with 2% decline

Raspberry Pi Holdings recently shared its first yearly financial outcomes as a publicly traded entity, shedding light on the hardware manufacturer’s performance for the fiscal year that concluded in December 2023. The disclosure on April 2nd unveiled the company’s financial status subsequent to its groundbreaking IPO on the London Stock Exchange.

The financial statement reveals that Raspberry Pi amassed a total revenue of $260 million in 2024, showing a modest 2% decrease from the previous year. Notably, the company’s pre-tax profits plummeted to $16.3 million, marking a substantial 67% decline compared to the preceding year.

Inventory adjustments within Raspberry Pi’s distribution networks were cited as the principal reason for these financial downturns. Nevertheless, despite these challenges, the confidence of investors appears unwavering, as Raspberry Pi’s stock price wrapped up at £4.78 on the day of the disclosure, reflecting an increase of 1.53%.

Raspberry Pi’s inception in 2009 as a foundation dedicated to promoting computer science education through cost-effective single-board computers eventually led to the foundation’s transformation into a public company named Raspberry Pi Ltd in 2021, which further evolved into Raspberry Pi Holdings when it went public on the London Stock Exchange. Despite its transition into a publicly traded corporation, Raspberry Pi maintains a strong connection to its educational beginnings, with the Raspberry Pi Foundation holding the largest stake in the holding company, controlling 49.08% of the shares.

During the past year, Raspberry Pi reported significant strides in product development, launching 22 new products distributed through 117 authorized dealers across the globe. The company managed to sell a notable 7 million units in total, which includes 1.9 million units of the Raspberry Pi 5, introduced in October 2023. Staying true to its commitment to innovation, Raspberry Pi informed about a surge in engineering staff, with 48% of the current workforce comprising engineers, a rise from 44% in 2023, emphasizing the organization’s dedication to product advancement and technical progress.

In light of the moderate financial setbacks experienced in 2024, Raspberry Pi expressed optimism for the future, forecasting a gradual uptick in demand throughout the current year as inventories stabilize to more conventional levels. Furthermore, Raspberry Pi assured its stakeholders of adequate raw materials to satisfy market needs for 2025, addressing previous concerns about supply chain disruptions that had affected the tech sector.

Raspberry Pi’s transition from an educational initiative to a publicly traded tech enterprise reaches a significant milestone with this inaugural annual report, symbolizing the company’s exceptional journey from classroom origins to being listed on the stock market.